The state chronicle. [volume] (Raleigh, N.C.) 1883-1893, 1887-01-13

thirds 81, 1866, 800 Private lders
own the remaining e-third-$533,500.
The whole amount of Indebtedness on this
road is 1927, ,024; of this sum the amount
secured by mortgage on road, at s per
cent, is 100000 The remainder, re-
duced to judgment bearing interest at G
per cent, $31, ,O24. At the last meeting
of the stockholders resolution was
passed, with my approval, authorizing the
company to, boyfow the sum of 1926, 900,
to be secug4@ mortgage upon the road.
Of this SUN, 800, 900 will be used in the
purchasSof new, steel rails for the road
and properly and the remainder will be
applied tdRhe discharge of judgment and
bonded debt, as above set forth, the latter
of which falls due in 1888. This loan, /
ann safe in saying. will be negotiated at a
greatly reduced rate of interest. This road
is go miles in length, passes through a fine
country, and is in a fair condition and
well managed. The stock is approaching
and with proper connections, which it is
hoped may be early secured, there is ey-
cry reason why it should pay dividend
1t is justly regarded as valuable property,
with a comparatively small debt, and |
earnestly recommend that the State shall
not part with her ownership in the prop
erty Fifteen years ago the stock of the
North Carolina Railroad was worth about
80 cents in the dollar; now it is worth 1906,
and is paying a dividend on the State
stock of $3.50, 900 annually. This enables
Ter to pay the interest on all her con-
struction bonds without further burden
ing the people.
The Atlantic and North Carolina Rail
road was originally intended as an extern
sion of the North Carolina Road. The
State owns over two-thirds of the former
and three -fourths of the latter. together
making line 319 miles in length, and
running from Charlotte to Morehead City.
There are now in the state four large and
wealthy railroad corporations; the policy
of these, as of all roads, is to build
branches running out on each side of the
main track, that they may occupy addi-
tional territory, increase their feeders and
add greatly to their general wealth. While
this work Is going on vigorously and our
territory is being occ%pied by others, what
are these two roads doing? Almost moth
ing. Steps should be taken at once to oc
cupy our own territory and build up these
feeders, as part of our own property.
Feeling the Importance Of this work,
would earnestly urge upon you the neces
slty, SO far as it may be consistent with
your existing obligations, to grant each of
these roads the necessary charters, and III
proportion to their length, sufficient con
victs to build branches from the main
stems, at such points and in such direc-
tons as may be deemed advisable, by the
respective directors of these roads. 1t is
believed that the people along the line of
these branches will gladly clothe and feed
the conyicts to do the grading, and after
the grading is done, the directors must,
by degrees provide ways and means for
laying down the rails and procuring the
rolling stock.
c. f. Il Wv. Railroad.
The, following work, has been dore on
tns rU~z-fa s--.A~-A-s.vur rnzsrcr;-
December /, 1855 sAumber. Of miles of
steel rails laid and completed, 122 210
miles; number of miles graded in same
time, 81 80 miles; number of miles yet
to grade, including sidngs. to Mt Airy,
II $40 miles.
In addition to this, there has been
graded and put into operation in North
Carolina with free labor 13 $40 miles;
have graded and ironed the factory branch
in Randolph county, 6 miles.
They have put III new steel rails on the
old part of the road, between Fayetteville
and the Gulf in Chatham County 16 80
miles.
The average number of conyicts actually
employed, for the whole time, on the
works is 166. This showing, when we
consider the number of cCnvicts employed,
is most creditable to the Company, and |
doubt not will prove satisfactory to the
State. This road will, l have no doubt,
be pushed to completion. 1t is now look
ing to Wilmington as its eastern terminus,
and | hope that during my administration
the varied and rich products of the sec
=, h 4
market in this, the chief export city of
the State.
W. N. C.. Railroad.
Within the last two years the Asheyille
and Spartanburg Road has been completed,
and II miles have been built and five
graded on the Western North Carolina
Railroad. The work is prosecuted with
energy, and the time cannot be distant
when this road, which has done SO much
to build up Western North Carolina, will
be completed to Murphy.
These, in brief, are the main topics
touched upon by the Governor in his sec
Ond biennial message to the General AS
sembly. 1t is a State paper worthy of
preservation. Members of the Legislature
and all publicists ought to read it care
fully and consider the suggestions it con-
taIns. 1t is like the eminent
ly conservative and practical. There is no
recommendation that would produce
radical change. There is no recommend
dation founded in desire to attract the
attention of the public and win applause.
There is no clap-trap in it. There is little
in it to criticize unfavorably and much in
it to call out sincere commendation.
Governor Scales evidently believes that
at this time the conserving and amending
present legislation is wiser than under
taking legislation greatly ia advance of
the times, or entering upon legislation in
new lines. In this we think he is wise
Few changes OF present laws are needed,
and although he does not say it, the Gov
ernor clearly indicates that the policy best
for the State is a conservative one.
Long live the Governor.
The Weather Signals.
White fag-for clear weather
Orange fiag-local rains.
Blue tiag-general rains.
White flag black square-cold wave.
Black triangle-rising temperature if
above weather flag, falling temperature if
below it.
Orange fag-with black square-indi-
Gates approach of cyclone.
Weather flag displayed alone-without
black triangle stationary tenn
perature.
Our Superior Court Judges ought to
know more about the resources and needs